According to CoreLogic, homeowners gained nearly $51,500 in home equity on average this year.
Today’s homeowners are sitting on significant equity, even as home price appreciation has eased recently. If you’re a homeowner, your net worth got a boost over the past few years thanks to rising home prices. Here’s what it means for you, even as the market moderates.
How Equity Has Grown in Recent Years
Because of the imbalance between how many homes were for sale and the number of homebuyers in the market over the past few years, home prices appreciated substantially.
And while price appreciation has slowed this year, that doesn’t mean you’ve lost all the equity in your home.
Do you know how much equity you have in your home? Contact me today if you want to find out or if you’re ready to put your equity to good use and buy the home you’ve been dreaming of.